State Government Tax Collections, Death and Gift Taxes in Ohio
OHDTHGFTAX • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.00
Year-over-Year Change
-100.00%
Date Range
1/1/1942 - 1/1/2024
Summary
The 'State Government Tax Collections, Death and Gift Taxes in Ohio' series measures Ohio's tax revenue from death and gift taxes. This data is crucial for economists and policymakers to understand the state's fiscal health and the impact of tax policy changes.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This trend represents Ohio's tax collections from death and gift taxes levied by the state government. It is an important indicator of revenue sources and can inform policy decisions around estate taxes and wealth transfer taxation.
Methodology
The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Tax Revenue program.
Historical Context
Policymakers and fiscal analysts use this data to assess Ohio's tax base and evaluate the effects of tax policy on state finances.
Key Facts
- Ohio's death and gift tax collections totaled $58.4 million in 2021.
- Death and gift taxes accounted for 0.7% of Ohio's total state tax revenue in 2021.
- Ohio eliminated its state-level estate tax in 2013.
FAQs
Q: What does this economic trend measure?
A: This trend measures the tax revenue collected by the state of Ohio from death and gift taxes levied on wealth transfers.
Q: Why is this trend relevant for users or analysts?
A: This data is important for understanding Ohio's fiscal health and the impact of tax policy changes on state revenues.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Census Bureau's Quarterly Summary of State and Local Tax Revenue program.
Q: How is this trend used in economic policy?
A: Policymakers and fiscal analysts use this data to assess Ohio's tax base and evaluate the effects of tax policy on state finances.
Q: Are there update delays or limitations?
A: The data is reported quarterly, so there may be a delay of several months before the most recent figures are available.
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Citation
U.S. Federal Reserve, State Government Tax Collections, Death and Gift Taxes in Ohio (OHDTHGFTAX), retrieved from FRED.